The Lees have a combined net income of $3799 a month. Find the amount they should allot for each category if they aim to follow the 50/30/20 rule for their budget. Round your answers to the nearest cent, if necessary.
According to the 50/30/20 rule, the Lees should allot 50% of their income to needs, 30% to wants, and 20% to savings and debt repayment.
50% of $3799 = $1899.50 for needs
30% of $3799 = $1139.70 for wants
20% of $3799 = $759.80 for savings and debt repayment
Therefore, the Lees should allot $1899.50 for needs, $1139.70 for wants, and $759.80 for savings and debt repayment each month.